Russia, Iran, Turkey sign $ 7 billion oil deal
|Turkish energy company Unit International reported earlier this week that it plans to invest USD 7 billion combined with Russia’s Zarubezhneft and Iran’s non-governmental firm Ghadir Investment Company to drill at three oil fields and one natural gas field in Iran, Oilprice.com reports.
Key Quotes via Oilprice.com:
“The three companies agreed to set up joint ventures to fund oil and gas development projects, with Ghadir Exploration and Production Company leading the consortium in which each company would have equal share of the financing.
According to Unit International, as cited by Reuters, the total reserves at the three oil fields are estimated at 10 billion barrels, and the fields would be able to pump 100,000 bpd.
The consortium could also drill at other fields in Iran, according to Unit International.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.